Bolt In Partnership With MAX, Set To Help Drivers Own Vehicles

Bolt Is Now Worth More Than $8 Billion After Raising $712 Million To Expand Product Lines
Bolt Is Now Worth More Than $8 Billion After Raising $712 Million To Expand Product Lines

Bolt has announced its partnership with Metro Africa Express (MAX), in an effort to expand vehicle financing programme within Nigeria.

In a statement disclosed by MAX’s Chief Financial Officer, Guy-Bertrand Njoya.

He stated that “Leading ride-hailing platform, Bolt has partnered with Metro Africa Express- (MAX) the largest vehicle subscription platform for low-to-zero emission vehicles in Africa – to expand the Bolt vehicle financing program in Nigeria,” the statement reads.

He said the scheme is part of Bolt’s commitment towards enabling  drivers to own vehicles with low equity repayment with support and improve earnings for drivers while allowing them to maintain flexibility as vehicle owners.

According to Njoya,  Bolt partnership with MAX will launch a lease-to-own framework for e-hailing drivers to lease a vehicle and pay in installments until full ownership is secured.

Mr Njoya further explained that the partnership will help Nigerian drivers to increase their efficiency by accessing a variety of value-add services which include access to low-to-zero emission vehicles; licenses and permits, insurance; affordable health coverage, and other financial products.

In his remarks, , Bolt’s country manager, Femi Akin-Laguda said; “We launched our vehicle financing scheme early this year to enable drivers to own a car or motorbike with low equity repayment and have decided to expand the scheme to create opportunities for more prospective drivers.”

As regards the partnership with Max, he said we are looking to expand our commitment to helping drivers on the Bolt platform to earn more and at their own pace, either driving full time or part-time.

“Drivers are fundamental to our business operations, and it is important to provide solutions that ensure that driving on Bolt is flexible and profitable because improving partner earnings is fundamental to sustaining the trust and loyalty that we have earned over time,” he said